Miami-based Landmark Development Corp. broke ground on an affordable apartment complex after obtaining nearly $33 million in financing from several parties. The developer is managed by Francisco Rojo and Robert Saland.
The project is located at 59 S.W. Third Ave (south of the City Hall garage). The City Place Apartments will feature 99 units in one 8-story building with a two-story parking deck. for people making up to 60% of area median income (AMI). The median household income in Broward County is $64,522. In addition to affordability, the developer will provide employment assistance, financial management, and home ownership opportunities to the tenants.
Truist Bank provided a $26 million construction loan, Broward County provided a $4 million loan, the United Way of Broward County awarded a $2 million mortgage and Neighborhood Lending Partners of Florida provided $945,000 in financing. The City of Dania Beach provided a 17-year, $1 million loan, and approved a lease in the city’s adjacent parking garage for 10 tenant parking spaces to the developer.
Residents will pay for their own electric bill, cable TV and internet service. Unit features include:
- Ceramic tile in baths, laundry area, and mechanical closet and vinyl flooring elsewhere.
- Granite counter tops in kitchens and bathrooms.
- Energy Star rated refrigerator and dishwasher, bedroom ceiling fan with light fixture, full size electric range with over-the range microwave, and garbage disposal.
- 70 units to include washer/dryers.-.all other units to have washer/dryer connections.
- Window treatments in each unit.
- Wired for high-speed internet.
- Low flow faucets, toilets, and showerheads.
- Energy efficient heaters.
- Low V.O.C paint (reduced amount of volatile organic compounds)
- Impact resistant windows
Building amenities include”
- Bike storage.
- Clubroom / leasing office.
- Exercise room.
- Business center.
- Common area laundry facility.
